Travel industry tips

Good morning from Skift. It’s Friday, May 26. Here’s what you need to know about the business of travel today.

Skift Global Forum is a must-attend event for anyone interested in the future of the travel industry. Its high-quality content, diverse range of speakers and attendees, and exceptional networking opportunities make it a valuable investment for businesses and individuals looking to stay ahead of the curve.

Skift Research has gained unprecedented access to one of the fastest growing online travel agencies (OTAs) in North America – Hopper. We interviewed senior executives across each of Hopper’s verticals, in addition to their co-founder and their CFO, to produce a deep dive analysis of Hopper’s rise in travel. Since being founded in 2007, Hopper has become a formidable disruptor of the OTA market, which for so long has been dominated by the duopoly of the legacy players. It has leveraged big data, machine learning algorithms and predictive analysis to launch an array of unique fintech products that have been fundamental in helping it become the third largest OTA in North America.

Skift Global Forums have long been recognized as a leading platform for travel professionals and industry experts to converge, discuss, and shape the future of the travel industry. Over the past decade, these forums have witnessed numerous groundbreaking insights and ideas that have transformed the way we think about and experience travel.

You may have heard the term “junk fees” a lot these days. They are these hidden fees across many industries: cable, finance, banking and particularly, the travel industry – airlines and hotels. Since last year, U.S. Transportation Secretary Pete Buttigieg has done many press conferences about the issue. President Biden brought it up in his State of Union speech.

Skift Research analysts held a LinkedIn Live session earlier this month that dove into the team’s annual State of Travel report. We’ve edited their presentation into a podcast-friendly version. You can watch a video of it here as well.

The travel industry faced unprecedented challenges during the pandemic, but its recovery is proving to be remarkable. Travel stands tall as an absolute megatrend, with immense potential for growth despite short-term economic concerns. This was one of the main takeaways of a LinkedIn Live session with the authors of Skift Research’s State of Travel report.

U.S. tourism organizations and businesses are replacing the billions of dollars in Chinese tourist spending with other markets.

Restaurant reservations are no longer something travelers book through the hotel concierge once they arrive. Travel industry executives attending Virtuoso Travel Week in Las Vegas say the quickest way to the wallets of their well-heeled clients is through their stomachs, and it’s food and drink that often drives where they end up going.

Donald Trump’s ascent to the presidency was predicated largely on two promises: more jobs and stiffer border security. Easier said than done. As it turns out, there are trade-offs that Trump either didn’t foresee or opted not to disclose.

With government bans on non-essential travel, airline fleets grounded and bars and restaurants closed around the world, the tourist industry has been hard-hit by the coronavirus pandemic. But as lockdowns are gradually lifting and societies start to reopen – observing social distancing measures, of course – we ask what coronavirus will mean for the travel industry going forwards. Here, we share our projections for the rest of 2020 and beyond: and don’t worry, you won’t have to kiss your summer holiday goodbye just yet!